CALGARY, Alberta, July 13, 2018 (GLOBE NEWSWIRE) -- Pursuant to the early warning requirements of applicable Canadian securities laws, Seymour Schulich announces that on July 12, 2018 he acquired, through Nevada Capital Corporation  ("Nevada"), a private investment corporation wholly-owned by him, ownership and control of an aggregate of 3,000,000  common shares ("Pengrowth Shares") of Pengrowth Energy Corporation ("Pengrowth"), representing approximately 0.5% of the issued and outstanding Pengrowth Shares (based on 556,117,090  Pengrowth Shares issued and outstanding), at an average price of $1.09  per Pengrowth Share for a total cash purchase price of $3,275,700.  Mr. Schulich (through Nevada) acquired the Pengrowth Shares through the facilities of the Toronto Stock Exchange,  the Nasdaq Canada Exchange, the Canadian Securities Exchange, the Aequitas NEO Exchange, the TSX Alpha Exchange, Omega ATS, Lynx ATS, Chi-X Canada ATS and the TriAct Canada marketplace.

Before giving effect to this transaction Mr. Schulich's aggregate holdings, through Nevada and The Schulich Foundation, a private charitable foundation established by Schulich (the "Foundation"), was 140,000,000 Pengrowth Shares representing approximately 25.17% of the issued and outstanding Pengrowth Shares (based on the number of issued and outstanding Pengrowth Shares set forth above). After giving effect to the transaction, Mr. Schulich, through the Foundation and Nevada, owns an aggregate of 143,000,000 Pengrowth Shares representing approximately 25.71% of the issued and outstanding Pengrowth Shares (based on the number of issued and outstanding Pengrowth Shares set forth above).

The acquisition of the Pengrowth Shares was completed pursuant to the normal course purchase exemption set forth in section 4.1 of National Instrument 62-104 – Take-Over Bids and Issuer Bids ("NI 62-104"). The value of the consideration paid for the Pengrowth Shares was not greater than the "market price" of the Pengrowth Shares (as determined in accordance with section 1.11 of NI 62-104).

Mr. Schulich acquired the Pengrowth Shares for investment purposes and may, in the future, increase or decrease his ownership of securities of Pengrowth, directly or indirectly, from time to time depending upon, among other things, the business and prospects of Pengrowth and future market conditions.

FOR FURTHER INFORMATION OR TO OBTAIN A COPY OF THE EARLY WARNING REPORT FILED IN CONJUNCTION WITH THIS PRESS RELEASE, PLEASE CONTACT:

Mr. Seymour Schulich
c/o The Schulich Foundation
20 Eglinton Avenue West, Suite 1900
Toronto, Ontario M4R 1K8
Phone: (416) 480-6490